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A project with an initial cost of $60,400 is expected to provide annual cash flows of $12,150 over the 9-year life of the project. If

A project with an initial cost of $60,400 is expected to provide annual cash flows of $12,150 over the 9-year life of the project. If the required return is 8.5 percent, what is the project's profitability index?

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